Indian industry remained upbeat about the business environment in the first quarter of FY2016-17, as borne out by a significant pick-up in the CII Business Confidence Index (BCI) for Apr-Jun 2016. The CII-BCI increased to the level of 57.2, up from the level of 54.1 recorded in the previous quarter. The index has been steadily climbing since the last three quarters.

Commenting on the decisive improvement in the BCI, Chandrajit Banerjee, Director General, CII said that the ‘pick-up in business sentiment is indeed commendable and lends credence to the perception that the economy is on a firm footing.

A rise in business expectations sends an early signal that industry is anticipating an upturn in demand propelled by factors such as implementation of the Seventh Pay Commission, progress of a favourable monsoon and pro-active reform agenda of the government'.

These findings are a part of CII's 95th edition of quarterly Business Outlook Survey, which was based on more than 200 responses from large, medium, small and micro firms, covering all regions of the country.

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